Ratan Tata will step down as chief executive of Jaguar Land Rover owner Tata Motors at the end of this year.
Tata has been CEO at the Indian manufacturer for over 20 years and Cyrus Mistry will take over the job before the end of 2012.
Tata and Mistry posed for the cameras on the JLR stand at the Delhi Motor Show along with vice chairman Ravi Kant plus JLR chief executive Ralf Speth and brand design chiefs Ian Callum and Gerry McGovern.
Tata said that the acquisition of JLR in 2008 was one of his finest achievements as chairman of Tata Sons along with turning Tata Motors into a carmaker as well as commercial vehicle manufacturer.
Tata said: "No other Indian company had been able to do that.
"We were the first. We have designed and developed our own cars which many people thought was not possible."